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SoFi and Los Angeles Chargers Quarterback Justin Herbert Tackle Rising Costs of Youth Sports with Game Changers Challenge

By: SoFi Technologies via Business Wire

September 06, 2024 at 09:00 AM EDT

Latest Campaign in SoFi Generational Wealth Fund to Fund Nationwide Challenge Supporting Public High School Sports Programs

SoFi (NASDAQ: SOFI), the one-stop shop for digital personal financial services, and Los Angeles Chargers Quarterback Justin Herbert today launched the Game Changers Challenge, a national campaign to provide funding for public high school sports programs in need. SoFi and Justin Herbert built the Game Changers Challenge to shed light on the strong connection between participation in youth sports and positive financial outcomes. For example, 95% of Fortune 500 CEOs having played youth sports.¹ Yet today, with youth sports carrying an average price tag of $833 per child, per season,² this opportunity is frequently out of reach for families.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240906407841/en/

SoFi and Los Angeles Chargers Quarterback Justin Herbert Tackle Rising Costs of Youth Sports with Game Changers Challenge (Photo: Business Wire)

The Game Changers Challenge will provide $100,000 in funding and is the latest program in SoFi’s Generational Wealth Fund, created in 2024 to increase access to financial education resources and help close the generational wealth gap. The contest will accept submissions between September 6th and October 7th. SoFi will announce finalists in early November, inviting the public to vote for their favorite submission. One winning public high school team will then be awarded a grand prize of $50,000, with five runner-ups receiving $10,000 each. The prizes will be funded by an equal contribution from SoFi and Justin Herbert.

“As the costs of sports continue to rise and public school athletic programs face budget cuts, we’re seeing fewer and fewer kids on tracks, courts, diamonds, and fields,” said Los Angeles Chargers Quarterback Justin Herbert. “Young Athletes are paying the price—missing out on the chance to develop their skills and follow the path that helped me get to where I am today. By partnering with SoFi, I want to support the next generation, ensuring they have the resources and inspiration they need to reach their full potential."

“Sports can change the direction of a kid’s life for the better, but for many families, the cost of playing sports is prohibitive,” said Lauren Stafford Webb, Chief Marketing Officer at SoFi. “Participation in youth sports correlates with career success and wealth creation later in life, which is why SoFi is partnering with Justin Herbert to help break down the financial barriers that often hold kids back. SoFi, through our Generational Wealth Fund, is honored to provide the resources that help people achieve their financial independence and realize their ambitions, on and off the field.”

How to enter The Game Changers Challenge:

Open call for entries:
- Submissions must be entered at www.SoFiGameChangers.com starting on September 6th, and ending on October 7th at 9:59 am ET.
Submission requirements:
- Athletes/players/teams (14+), coaches, or parents must submit one short video (under two minutes) explaining how $50K could help make a difference.
- Entrants are encouraged to show their creativity and how the prize funds can have a positive impact on their sports program and community.
- One short write-up (100 words or less) to accompany the submission.
Challenge eligibility:
- You must be 18+ (coach, captain, teacher, etc.) to enter
- Must be associated with a U.S. public school sports team or athletic program. Submissions may apply to the school’s overall athletic departments as well as sports team(s).

To learn more about The SoFi Game Changers Challenge, prizing, official challenge rules, terms and conditions, and how to submit, please visit www.SoFiGameChangers.com.

About The SoFi Generational Wealth Fund

The SoFi Generational Wealth Fund seeks to increase access to financial education resources and close the generational wealth gap in America. In 2024, the Fund launched in partnership with NBA Champion and two-time Olympic Gold Medalist Jayson Tatum and the Jayson Tatum Foundation, deploying $1 million to promote financial literacy and create family-sustaining wealth for years to come. The fund recently partnered with journalist and TV personality Elaine Welteroth, founder of birthFUND with a $500,000 donation for safe maternal healthcare for families in need through financial aid and educational content. The SoFi Generational Wealth Fund aims to reach communities with helpful financial resources to support financial literacy as a path to sustainable wealth for future generations.

About SoFi

SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company's full suite of financial products and services helps its more than 7.5 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like, financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, and SoFi Relay– and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack servicing 150 million users across the world. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the OCC and FDIC and SoFi is a bank holding company regulated by the Federal Reserve. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

¹Medium, “The Link Between Playing Sports and Being Successful in Business” (January 18, 2024)

²The New York Times, "Why So Many Kids Are Priced Out of Youth Sports" (February 14, 2024)